Nolo's Plain-English Law Dictionary

Legal Dictionary Home

Uniform Principal And Interest Act
A uniform statute, adopted by most states, that in its most recent version allows some trustees to make adjustments that were not formerly allowed. For example, a trustee could distribute principal to income beneficiaries if it were necessary to carry out the purpose of the trust.
LA-NOLO4:DRU1.6.7.18.20160208.35491